Drago Company purchased equipment on January 1, 2016, at a total invoice cost of $1,200,000. The equipment has an estimated salvage value of $30,000 and an estimated useful life of 5 years What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? Select one: a. $240,000 b. $480,000 C. $234,000 d. $468,000